Planning_Economic Impact Assessment

                                                              Section 5: Retail liquor potential




     5.2 Specialty retail demand

     This section of the report considers the market potential for the proposed
     specialty retail stores.


     The performance of any particular retail facility, be it an individual store or a
     collection of stores provided in an urban centre, is determined by a combination
     of the following critical factors as outlined earlier.


     The market potential for the proposed specialty retail stores at Noosa Heads is
     considered taking into account the critical factors, each of which have been
     addressed in the earlier sections of the report.


     Estimated potential specialty retail spending and floorspace demand is based on
     the following key points:


     • Total specialty retail spend has been identified as detailed in section 3.


     • In addition to this residential spend, a beyond trade area (BTA) spend,
        including spend by visitors and tourists, has been allowed for. The BTA can
        vary between each retail category and comprises between 20-30% in addition
        to resident spend (this percentage of BTA is higher than usual as a result of the
        high tourist visitation locally).


     • The average turnover for specialty retail is then applied.


     The steps detailed above allow the calculation of the estimated specialty retail
     floorspace demand available to trade area, including the introduction of the
     proposed tenancies in 2015.        On average, shopping centre and retail precinct
     specialty stores are expected to maintain consistent sales over the period.


     This analysis is presented in Table 5.3 and demonstrates how the forecast future
     increase in demand for specialty retail uses is expected to be well in excess of the
     proposed specialty retail uses at the subject site (in terms of floorspace).




                                                          Noosa Heads Bowls Club, QLD
34
                                                                  First Choice Assessment      34
                                                                                 Coles Group